March 30 2015

Home Sales Up 3% Making Spring A Great Start for the Housing Market

Home Sales Up this Spring

The housing market is in full bloom this season with pending home sales already up 3% in February. According to the National Association of Realtors, signed home contracts are up 12% from a year ago and the highest they have been in two years.

Chief economist for the National Association of Realtors, Lawrence Yun, said, “Pending sales showed solid gains last month, driven by a steadily-improving labor market, mortgage rates hovering around 4 percent and the likelihood of more renters looking to hedge against increasing rents.”

The only thing currently slowing down the market is low inventory. Lack of homes available for purchase is making for a highly competitive housing market and is increasing home prices. So far we are on track for a great home buying season!

Comments

Add comment


(Will show your Gravatar icon)

biuquote
  • Comment
  • Preview
Loading



Search


Subscribe

Feed ic_myyahoo.gif

ABOUT THIS BLOG

The New Homes Directory.com Corporate blog began in 2008, due to the increasing difficulty of keeping both our company personnel as well as our client base up to date with both site and product enhancements. Read more...

Comment Policy

We encourage comments and look forward to hearing from you. Please note that New Homes Directory.com may, in our sole discretion, remove comments if they are off topic, or inappropriate. Copyright © 2017 Fat Cat Inc. All rights reserved.